Kingsgate Consolidated (KCN)

Goldman Sachs has downgraded
Kingsgate Consolidated
to a “sell" citing weaker production outlook and the likelihood of gold prices continuing to soften. The goldminer has projects in Thailand and Australia, and reported EBITDA before significant items of $65 million for the six months to December 31, 2012. Gold production rose just 5 per cent on the previous year. Earnings per share of 20¢ are forecast for fiscal 2013, down from 52.5¢ in fiscal 2012.